Saving for buffer and fund with no due date- how do I allocate this?

  • 1
  • Question
  • Updated 2 months ago
  • Answered

Hi! First month using Goodbudget. I have one saving for buffer I do manually each month and one saving to an amount with a fixed amount. But how do I set it in my budget? I have made an envelope for the buffer and set the date to when I get my salary. I have another one for the fund, set the to the fixed date when it is actually withdrawn online with the correct amount. Ok, so those envelope will be zero when I register those transaction. But I do somewhere want to see my savings grow for pshycological reasons:-) But as the savings grow each month I do not want them to be part of my unallocated - just how it grows. So really grateful if you could tell me how to set that up. Also if I would have to make a withdraw from my buffer account, should I then make a transfer to the envelope I intend to use it for. I do not have an end-date for the buffer, just an amount. I do not have an end-date for the fund account, it just goes on and on and on...






Photo of Anna-Karin Danielson

Anna-Karin Danielson

  • 10 Posts
  • 0 Reply Likes

Posted 3 months ago

  • 1
Photo of Alex Park

Alex Park, Official Rep

  • 367 Posts
  • 71 Reply Likes
Hi Anna-Karin,

Welcome to Goodbudget! I'm not 100% clear on what it is you're looking for, but it sounds like you're looking for a place to stash your savings in Goodbudget (other than Unallocated) so you can see the saved amount increase over time. If so, then you should simply create a new savings Envelope, and you can move all of your excess / saved money into that Envelope and watch its balance accumulate over time. Does that make sense? If that doesn't answer your question, would you describe in a bit more detail what you're looking to do?
Photo of Anna-Karin Danielson

Anna-Karin Danielson

  • 10 Posts
  • 0 Reply Likes
Hi, you got it-:) shall I create the savings envelopes by all my other envelopes, Rent, Gas etc but with no amnount set and just fill from Unallocated when I get my salary? Or DIF I misunderstand? Thanks and kind Regards from Sweden
Photo of Alex Park

Alex Park, Official Rep

  • 367 Posts
  • 71 Reply Likes
Hi Anna-Karin,

Yes, that sounds good. Setting a budgeted amount of 0 will let you put money into it as you please but not have it interfere with your normal budgeting. Hope that helps!
Photo of Nashit

Nashit

  • 7 Posts
  • 0 Reply Likes
I would suggest you to create a yearly budget instead and fill some estimated saving
Photo of Anna-Karin Danielson

Anna-Karin Danielson

  • 10 Posts
  • 0 Reply Likes
Thanks